Vancouver’s real estate market has been undergoing a notable adjustment. Over the past year, local home prices have decreased by about 10%, and are now down roughly 20% from their 2022 peak. These numbers highlight just how much the landscape has shifted from the fast-paced growth we saw in recent years.
From my perspective working with investors, developers, and families across Vancouver’s West Side, North Vancouver, and the North Shore, these changes underscore the importance of looking deeper than surface trends. Growing inventory, softer economic growth, and the uncertainty of potential rate hikes are all contributing to ongoing price pressure. While some may be watching for a quick rebound, the current fundamentals suggest that prices are likely to stay more subdued in the near term.
For those evaluating new opportunities or considering next steps—whether that’s buying, selling, or development—now is the time for careful analysis. I always encourage my clients to examine properties with a builder’s eye: considering renovation potential, cost scenarios, and long-term value, not just today’s headlines. In a market like this, nuanced insight and data-driven strategy can make all the difference.
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